Daily Market Comments - Wednesday 29 July 2009

[RTFX-Trading]

EUR-USD	There is bearish potential for a fall to 1.4097 while 1.4200 - 1.4236 resist. After this fall a recovery up to 1.4236 or 1.4271 is expected.
USD-CHF	Currently uptrend should end around 1.0775 - 1.0814 area. A correction down to 1.0705 - 1.0674 is expected. A rise above 1.0876 will abort the expected correction.
GBP-USD	While above 1.6410 - 1.6361 zone a corrective dip could test 1.6458 or 1.6526. After which it should resume his downtrend.
USD-JPY	It is likely to fall towards 94.2950 - 93.9700 as its corrective rally could falter in 94.9100 - 95.2000 area. Stop above 95.8500 zone.
USD-CAD	While below 1.0860 - 1.0897 it might drop to 1.0740 or 1.0667.
NZD-USD	It is a triangle configuration. Market should break either side. Acceleration should occur above 0.6634 or under 0.6538 limits.
AUD-USD	There are initial signs of a good corrective recovery towards 0.8337 or even 0.8407. Supports at 0.8234 and 0.8199 zone.
EUR-JPY	Market should not go lower than 133.4250 - 132.5733. After this move down it should go up to 134.9650 - 135.6534 area.
EUR-CHF	Our preferred outlook is for a drift down to 1.5212 or below 1.5190. Resistances are at 1.5235 and 1.5238. A rise above 1.5260 would delay but not abort this expected fall.
EUR-GBP	Current fall is near an end of wave around 0.8603 zone, a rally should then procede to above 0.8645. Fall below 0.8583 would cancel this scenario.
GBP-CHF	It looks more likely that it would rise to 1.7731 from 1.7636 or 1.7603. After which a downside move is expected.
GBP-JPY	null
NZD-JPY	It looks more likely that it would rise to 62.9667 - 63.7433 from 61.9350 or 61.5467. After which a downside move is expected.
AUD-JPY	It looks more likely that it would rise to 79.2000 from 77.7550 or 77.2400. After which a downside move is expected.
XAG-USD	Market should not go lower than 13.6650 - 13.5200. After this move down it should go up to 13.9150 - 14.0200 area.
XAU-USD	Market should not go lower than 935.9700 - 929.0000. After this move down it should go up to 947.2350 - 951.5300 area.

Trading Desk, RTFX Ltd
16th September SquareMosta, MST 1180Malta
Tel: +356 23 310 000 | Fax: +356 21 412 458

RTFX Ltd is licensed to conduct investment services business by the Malta Financial Services Authority. This information does not constitute an offer or solicitation and is provided for information purposes only. This information shall not be deemed to constitute advice and should not be relied on as such to enter into a transaction or for any investment decision. Any opinions expressed in this document represent the views of RTFX Ltd at the time of preparation. They are thus subject to change without notice. RTFX Ltd believes that the information contained herein is accurate as at the date of publication. However, no warranty of accuracy is given by RTFX Ltd and no liability in respect of any errors or omissions, including any third party liability, are accepted by RTFX Ltd or any director, officer or employees.